Micron Technology, Inc. (MU) Director Sells $128,190.00 in Stock

Micron Technology, Inc. (NASDAQ:MU) Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total value of $128,190.00. Following the transaction, the director now owns 113,585 shares of the company’s stock, valued at $4,853,487.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Micron Technology, Inc. (NASDAQ MU) traded up $1.90 during midday trading on Thursday, hitting $46.88. The stock had a trading volume of 52,230,000 shares, compared to its average volume of 43,390,000. Micron Technology, Inc. has a 12 month low of $21.49 and a 12 month high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The company has a market cap of $54,250.00, a price-to-earnings ratio of 7.38, a PEG ratio of 0.45 and a beta of 1.75.

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Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Micron Technology’s revenue for the quarter was up 71.4% on a year-over-year basis. sell-side analysts anticipate that Micron Technology, Inc. will post 9.78 earnings per share for the current year.

A number of research firms have recently issued reports on MU. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley upped their price objective on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a report on Tuesday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price objective (up from $75.00) on shares of Micron Technology in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $55.33.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Prudential Financial Inc. raised its position in Micron Technology by 17.1% during the 3rd quarter. Prudential Financial Inc. now owns 1,775,481 shares of the semiconductor manufacturer’s stock valued at $69,830,000 after purchasing an additional 259,557 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Micron Technology by 1.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,383,098 shares of the semiconductor manufacturer’s stock valued at $133,057,000 after purchasing an additional 51,527 shares during the last quarter. Shelton Capital Management raised its position in Micron Technology by 104.0% during the 3rd quarter. Shelton Capital Management now owns 188,499 shares of the semiconductor manufacturer’s stock valued at $7,414,000 after purchasing an additional 96,100 shares during the last quarter. Rubric Capital Management LP raised its position in Micron Technology by 130.8% during the 3rd quarter. Rubric Capital Management LP now owns 600,000 shares of the semiconductor manufacturer’s stock valued at $23,598,000 after purchasing an additional 340,000 shares during the last quarter. Finally, Greenlight Capital Inc. raised its position in Micron Technology by 89.5% during the 3rd quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares during the last quarter. 80.82% of the stock is owned by institutional investors.

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